Why MLM?

MLM (Multi-Level Marketing) or Network Marketing is worth considering for the following reasons
1) Low start up business cost. (Begin as a home based business)
MLM allows people who don't have the capabilities to found a corporation, to have a business of their own, with no appreciable investment, part time or fulltime.
2) Part time business (compliment your full time job)
3) Residue income from building an effective down-line network stream whereby you will be able to gain a certain percentage of commission from the sales of your down-line streams. Residue income is one of the paths towards financial freedom.
4) You don’t need any specific qualification such as diploma or degree. Neither do you need any particular experience. Usually your up-line stream would provide the necessary training to enable you to grow your business. Remember that your up-line stream would stand to gain if you do well in your MLM business.


MLM Success Strategy

Firstly you must set goals with regards to your MLM business, for instance the timeline whereby you wish to attain financial freedom through the residue income derived from establishing the necessary down line stream network. Learn from your up line network with regards to duplicating the successful process for your down line network.
You must personally use the product and convince of its benefits before you join MLM to promote it.

Like many other types of businesses, MLM is not a get rich quick scheme. There is no substitution for dedication, passion and commitment to make your MLM business successful. Like any other businesses, in general 4 out of 5 MLM business start up will fail eventually. There are several reasons for failing in MLM business. Lack of interest, lack of focus and failing to treat the MLM as a serious business that warrants dedication and efforts are some of the some of the reasons why people drop off from MLM.

Even though many MLM businesses are run on part time basis, it is important to dedicate reasonable number of hours to it. In general, you will most probably need to dedicate 2 to 3 hours per day or at least 12 hours per week to make your MLM business successful.
It usually takes 3 years or more for a MLM business to take off and even then it is important to continuously grow, nurture and touch base with your down line streams.

Why I consider part time MLM business?
I am no millionaire, certainly not consider rich at all by Singapore standard; I aspire and hope to achieve financial freedom when I retired from work 10 years from. I hope to retire and live comfortably within my own means when I reach the age of 55 without having to worry about money. I am 42 years old this year, single, in good health and having a full time job as software developer in a multinational technology firm in Singapore. As we grow older, it becomes more difficult for us, the older generations to compete for jobs with the younger generations. It is true that we may have advantage if terms of the necessary experience and the expertise to compete with the younger generations, we need to be mindful though that technology evolves so quickly, so much so that what we have learnt and gain from past experiences and the knowledge that we have gather could be easily becomes obsolete and outdated.
The Singapore government has been reminding and encouraging older Singaporeans to continue to upgrade themselves in terms of knowledge and skills so as to be employable in today’s fast pace and ever changing environment. We may have to lower our salary expectations, probably be prepared to take a deep cut in our paycheck so as to compete for jobs with the younger generations.
Companies, local and foreign alike are trying to cut down on the increasing operating cost and expenditures by moving to other countries such as China, India; countries with lower labor and other operating cost.
In the meantime there are hundreds of diploma and graduate degree holders entering the job market each year. No doubt it is a matter of time the older generations will feel the pinch more and more. Things are getting more expensive by the years, it is almost impossible to even think that crude oil price is ever going to fall back to the post US$40/- per barrel. MRT and cab transportation cost are rising but the older generations are in danger of loosing their jobs.
Rising medical cost is another major cost of concern. It is a fact that as we age, our health would deteriorate progressively. Never mind what the health expert says, we cannot fight against Mother Nature, we can slow down the ageing process by improving our lifestyle, how many of us would ever have the time and ever thought about that?
Credit card firms and banks are clouding our minds with advance loans and credit card billing facilities. These financial institutions are no different from loan sharks. They charge high interest for loans under the pretext to improve our quality way of life.

It was once reported that 95% of the American population would retire broke. We should plan retirement long way before we are told our services are no longer needed due to our age and operating expenditures. Many older Singaporeans get around the financial crunch when they reach the retirement age by downgrading and moving to smaller flats.
No every aging Singaporeans has the opportunity to do so though.

The key to financial freedom is to get paid rewardingly even though we no longer work. Apart from prudent and sound investments that increase our money multiple folds due to the benefit of the compound interest, MLM is a business structure worth considering given the fact that it leads to financial freedom due to opportunity of the residue income generated.